Tiverton

£
3 Beds
Bathrooms
  • Established business tenants - 5 yr lease
  • Parking at the rear for 5 cars
  • Spacious maisonette above - empty
  • Commercial space - 1223 sq. feet
  • Residential space - 1265 sq. feet
  • Potential rental income for the whole - £19,000 p.a

Tiverton Office

T. 

Full Property Details

This is a fantastic opportunity to invest in a mixed use, commercial and residential building, located in a good trading area close to the town centre, and with parking for 5 cars at the rear. The existing business is unaffected.

The ground floor, measures 1223 sq. feet, and offers a good shop frontage, with two offices beyond, a kitchen, a store room and a cloakroom.

A rear lobby leads out to the parking area.

A long standing commercial tenant occupies the premises, having recently signed up to a new five year lease, currently generating an income of £10,200 p.a (which includes a contribution towards the cost of buildings insurance).

The maisonette above, has its own private access at the rear. Three of the five parking spaces have been allocated under the commercial lease, leaving two spaces for the maisonette. An external staircase leads up to the first floor, across a roof terrace, to the front door. The maisonette does need a little remedial work, but once done, we would anticipate an annual rental income of £9,000.

A particularly spacious entrance hall with multiple storage cupboards, gives access to the kitchen dining room., within which is a good range of cupboards and drawers, with space and plumbing for a washing machine, space for an electric cooker and space for a fridge freezer. Night storage heater.

The large sitting room lies to the front of the property with a pleasant view of the town hall, and a substantial stone fireplace. The second bedroom is also on this floor, with a wash basin to one corner. The bathroom offers a bath with an electric shower above, WC and wash basin.

Stairs rise to the second floor where the current owner had started some work removing a wall. This could be reinstated to create a third bedroom, or the area could be used as a lounge or dressing room.

This is a lot of property for the money, has the potential of returning an attractive yield.

Tenure:
Freehold

Services:
Mains electricity, water and drainage.

Council Tax:
Maisonette - Band A

Rateable Value - Commercial:
£11,500

Local Authority:
Mid Devon District Council

Property Location Map

Floor Plan

Property Floor Plan

EPC

EPC
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